Indian shares rise on ruling party's win in key state election
** Indian benchmarks NSE Nifty 50 .NSEI and BSE Sensex .BSESN rise 1.6% and 1.5%, respectively
** All 13 sectors trading higher; small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 up 1.7% each
** Analysts attribute upbeat sentiment to PM Modi's party and its alliance's win in Maharashtra state elections, ending political instability in one of India's most industrialised and economically important states
** Reliance Industries RELI.NS, second-heaviest stock on Nifty, up 1.6% after Citi upgrade; brokerage said after a period of underperformance, the risk-reward for co has turned favourable
** JSW Steel JSTL.NS falls 2.6%, topping Nifty losers, after it was selected to be removed from BSE Sensex on Dec. 23
** Zomato ZOMT.NS, which will replace JSTL, jumps 5.3%
** Adani group stocks up between 0.1% and 4.6%, except NDTV NDTV.NS and Adani Energy Solutions ADAI.NS, which are down
** United States filed criminal charges against chairman Gautam Adani last week, which group denied and called "baseless"
Reporting by Hritam Mukherjee in Bengaluru
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